[Anonymous]

Could you tell me what you do on a daily basis? I am going to be re-entering the work force probably in a year or so, and am just not sure what area of accounting I want to go into. I started off in Audit at a Big 4, then worked in the corporate world for awhile until I had kids. I enjoy doing my own taxes and do some for friends and family members as well, but I’m not sure if that would translate into enjoying doing taxes for a public firm. I know I definitely don’t want to do Audit and I don’t want to work for a Big 4. Thanks for enlightening me!

[Givemesleep]

If you are great at tax and work for a CPA firm, you spend your day answering questions for the audit department.

Reg 11/15/2011 - 80
Aud 02/28/2012 - 81
Bec 05/31/2012 - 78
Far 08/31/2012 - 83 Do you believe in Miracles, YES !!!

CPA License received 10/2012 !!
CFE License received 04/2013 !!
EA License received

Givemesleep

[Anonymous]

What people do will vary from firm to firm and position to position, but I work in very small public Accounting firm and do anything that needs to be done like:

Answering phones, typing letters, inputting clients' checkbooks into a computer program, analyzing income and expense listings, asking clients questions about certain transactions, inputting income and expense listings into tax programs, doing journal entries, putting final numbers onto tax returns and completing the rest of the Federal and state(s) (if applicable) tax returns. Financial Statements…Photocopy and bind tax returns and send to client. E-file or paper file extensions/tax returns…etc. 1040,1065, 1120, 1120s, 1120f, 990, 1041, different states,etc.

Deal with notices/letters clients get from the government…

Also do quarterly and yearly payroll taxes, W-2s/1099s, sales tax, RPIES, Certiorari forms,etc.

Oh yeah, putting away files. That's the best part! 🙂

[Justinnnn]

It varies greatly. Tax is an extremely broad field. I work at a regional firm (50 or so people), not Big 4.

I am specialized in corporate tax. I spend a lot of time preparing Form 1120 (federal and state returns), quarter estimates, and tax provisions (deferred tax assets/liabilities, for financial statements) for a public client on NYSE. I respond to their state notices, etc.

I prepare 1120s for other smaller clients, as well as 1120-S and 1065 (partnerships); and some 1040s. Although I am corporate specialized, I prepare my firms biggest 1040.

I also research tax issues, write memos. I have been involved in tax basis/E&P studies.

By the way, I do very little with sales and payroll tax.

REG 80 2/7/11
FAR 91 10/8/11
AUD 97 11/22/11
BEC 96 2/4/12

CPA 3/15/13

[Anonymous]

Thanks for your responses everyone! That definitely helps. I am not familiar at all with corporate tax, and I guess I better wait and make my final decision after I take Reg. That might change my mind 🙂 Although with the job market the way it is, I may not even be able to get a tax job if I wanted it.

[Anonymous]

This is my fourth busy season in tax, first at a larger regional firm and now at a small local firm. Every firm will have somewhat different responsibilities depending on their size and particular processes, but most of my days are pretty much the same day to day. Answer emails & calls from clients, meet with clients, prepare complex business and individual tax returns, review returns prepared by staff and help them with issues, do research as necessary, and then do it all over again. Outside of busy season is more of the same, along with planning and projections for clients, and dealing with the inevitable IRS and state tax notices or audits that trickle in.

If you do want to work in tax, I suggest finding a place where you have the potential to advance quickly and have a good deal of client contact so it's good that you're not considering Big4.

[Anonymous]

Those of who are in tax, are you guys happy with your salary?

[Author]

Replies